- Yes. Archer & Moreno Realty is licensed with the Texas Real Estate Commission, License Number 0584828. We are also members of the Better Business Bureau and are bonded.
- First, we ensure the property meets the Texas Property code and is competitive with other properties in the area. Next, we set the right price for current market conditions, and lastly, we list the property via numerous methods, such as: San Antonio Board of Realtors Multiple Listing Service (MLS), place professional/highly visible signs in the yard (when permitted), several internet search-engines, flyers, contact professional organizations throughout the greater San Antonio area, post MLS printouts at Military Base Housing (Lackland AFB, Randolph AFB, and Ft. Sam Houston Army Post), and the list goes on.
- The vast majority of Tenant Leases we broker are for 12 months to 24 months; however, this is dependent upon several factors. The time of year, Owner's input, economy, and property location are all factors. The rental strategy will be developed in coordination with the Owner. An example would be... if we take over a vacant property in November. We may accept a 6-month lease to ensure the property will be available in peak rental months; in this case, April of the next year. This will allow the property to earn revenue during the non-peak rental months while aligning the projected vacancy to coincide with peak rental months.
- Absolutely. The particular paperwork depends upon the citizenship of the owner and the form of ownership. Two examples are below:
United States Citizens. Each Owner is required to provide a completed IRS Form W-9 - Request for Taxpayer Identification Number and Certification. In January of the following tax year, we send each Owner an IRS Form 1099 - Misc./Income.
Foreign Nationals. Please contact us to help walk you through fulfilling U.S. Tax obligations.
- Our Management Fee is 10% of the gross monthly rent, but don't stop here, please read the Special Note below. The Management fee is also dependent upon many factors (e.g., Multiple Property Discount, Military Discount).
Special Note: Be wary of Property Management Companies that do not tell you all of their Management Fees up front. For example, on the surface, a 6% monthly management fee versus anything higher is an easy one, go with the 6%, but there's more to the story. There may be other significant fees, such as a larger leasing Fee. The 6% combined with a Leasing fee of the entire first month's rent is more expensive than the standard 10% Management fee and 1/2 the first month's rent. The following table illustrates this fact for a typical $1,000 a month rental:
Management Fee
Monthly Fee
Leasing Fee (1 time)
Leasing Fee monthly avg*
Actual monthly expenditure
6%
$60
$1,000
$83.33
$143.33
10%
$100
$500
$41.67
$141.67
* Please be aware that our leasing fee is used mainly for marketing purposes. There is no monthly charge for the Leasing Fee, but for the purposes of the comparison, the fee was averaged over 12 months.
From the above table, you can see that the Leasing Fee makes a big difference in your costs. We find the 1/2 month's rent sufficient to effectively market a property via several mediums. Granted, there isn't much difference between the two fees when all is calculated, but wouldn't you be tempted to simply go with the company with the 6% Management fee versus 10% without looking at the details? Do you ever wonder if creative accounting is used to pull you in, what else is being done creatively? We prefer to keep it simple and let you know everything - UP FRONT.
Lesson: Be sure to ask many questions to get the real picture before signing a Property Management Agreement.
- Our Leasing Fee is 50% of the first month’s rent. You do not pay until the property is rented and earning money.
- These funds are primarily used to advertise the property via other Realtors, Internet Search Engines, flyers, tenants, etc. We allocate the funds to advertise through a multitude of medias to attract the largest number of prospective Tenants…the greater the audience who knows about your property – the greater the odds one of them will lease it.
Special Note: Be wary of Property Management Companies who claim not to have a Service Fee, but instead have exceptions that "fall outside normal management service." Some Property Management companies charge $35.00 and upward for each visit. Again, be sure to ask many questions to get the real picture before signing a Property Management Agreement.
- Absolutely. This will allow you the most flexibility in the market.
Special Note: Be wary of Property Management Companies who go beyond a reasonable "Protection Period" of 90 days. The Protection Period is the timeframe that establishes the Broker’s right to a fee, under certain circumstances, if the Owner sells the property to one of the Broker’s prospects after the end of the applicable contract with the Broker. Some companies place a 1-year (or more) clause in the Property Management Contract to be paid if the Tenant purchases your property. If you sell your house, do you really want to pay a Broker after the Property Management Contract is over? Be sure to ask many questions to get the real picture before signing the Property Management Contract.
- There is no guarantee each prospective Tenant is qualified. However, we use the following criteria (pdf) to screen applicants and increase the odds in the Homeowner's/Investor's favor of selecting a responsible Tenant. Once the application is submitted, we run a background check and make the determination based upon the results.
- Yes. Our fist line of defense is strict Tenant selection. We also do drive-bys to view the exterior on a quarterly basis. In addition, we schedule a visit to view the inside approximately once every contract renewal. Lastly, if there is an HOA present, they contact us with any violations.
- We will first ask the Tenant to correct the problem. If the problem is corrected – great! This is normally the case. However, if the problem is not corrected, then our actions are dependant upon each specific situation, but a scaled approach is taken such as a notice at first all the way to eviction for not complying with the terms of the contract.
- We first contact the Tenant to resolve the non-payment of rent. Immediately, we then proceed with a 3-day Notice to Pay or Vacate. The notice is hand delivered or via certified mail, pictures taken of the exterior condition of the property, and a report created as to the status of occupancy (visual observation only…we do not physically enter the property without notice).
- If the Tenant pays, then the problem is resolved. If not, we begin the Eviction Process.
- Tenants are held responsible for damages they cause. This responsibility extends to an occupant, a member of the Tenant's family, or a guest or invitee of the Tenant. The dollar amount is not an issue.
- Absolutely. The day-to-day transactions will be on your monthly "To Date Trust Account Ledger Statement" (like your checkbook... shows everything). The larger issues significantly impacting your property will be brought to your attention. However, we do not bother you with small issues and the daily operations of managing your property... this is what you hire us to do.
- We process the Owner Statements and Owner Checks between the 7th and 10th of each month; Owner Checks are processed a minimum of two days after deposit of Tenant payments. Everything keys upon receipt of the Tenant payment. Due to this fact, Owner Statements and Owner Checks may be processed before or slightly after these projected dates.
The process: The Tenant Lease Agreement states the rent is due on the 1st of each month. However, Texas state law allows for a two-day grace period. So, in reality, the rent is not actually considered late until midnight on the 3rd day of each month.
To compound the situation, the 4th may land on a Saturday, Sunday, or a holiday, delaying the process until the next business day. If all goes well, we process the checks on the 4th and drop off at the Bank for deposit that afternoon. Again, if the next business day is a non-working day/holiday for the Bank, the funds will be deposited to our account the next business day. The funds must be deposited into our account and clear prior to processing Owner Checks. We do not want Owner Checks returned for Non-Sufficient Funds.
Owners should receive statements and checks by the 15th of each month. We will contact you if there appears to be any problem delaying the process.
- We pay routine maintenance (e.g., lawn care, water/electric when vacant, re-keying of locks, etc.) from the Owner's Reserve Account. The Owner pays the Home Owner’s Association directly in addition to any taxes, insurance, mortgage, insurance or any other associated fees.
- Absolutely. We recommend you view your property at least once a year. Please contact us at least one week prior, so we can make arrangements with the Tenant.
- The Tenant will notify us of any problem. We then validate the maintenance request and categorize it as Emergency Repair (immediate action required), Normal Priority Repair (1-3 days), Preventative Maintenance Repair (4 days plus). It may be something small the Tenant or one of our Property Managers can fix (e.g., resetting a breaker, servicing the water softener, etc.). If it is an Emergency Repair, then we dispatch a vendor immediately/as soon as possible.
- We have a list of Professional Maintenance Vendors to maintain and repair properties. You may select your own (if meeting our criteria) or we can solicit from several used in the past. We prefer to select the vendor, due to time constraints and established working relations. To be on our list, the Vendor must be (if required by the specific trade and/or County, State, Federal guidelines/laws): licensed, bonded, insured, and have a proven track record. They must provide quality at a reasonable price for their specific profession.
- Yes, if the amount of a single repair is more than $300.00. There may be times where we would not get your permission to exceed this amount: 1. Health (broken sewer main), 2. Safety (leaking gas), 3. Habitability (Broken heater in winter), 4. Property will incur damage (water heater leaking). Even in these extreme scenarios, we will attempt to make contact with the Owner before obligating funds. If one of the four situations occurs, we will use the reserve funds and our own money to effect immediate repairs. The Owner will be billed and funds recouped from the next month's rent check.
- We will not spend more than $300 on any single repair without the owner's consent; however, the $300 is used to prevent multiple calls for minor repairs to the owners. The Reserve account is a compromise to lessen the calls to the Owners to issues that deserve their attention.
- Yes and No. This is really an individual choice. Please be aware of the "Exception" Clauses on the contract (e.g., HVAC not covered if not fully serviced/inspected annually, Not covered if problem is classified as a "pre-existing condition", etc.). If you decide to select a Home Warranty Company, please check for any complaints with the Better Business Bureau and the Texas State Attorney General’s Office. Also, be aware the Homeowner does not have a choice on who performs the work.
- We recommend you hire a professional to maintain your pool regularly and include this as part of the rent. Many times the Tenant does not have the "know how" or does not care for it in the same manner as an Owner.
- We require between 90% and 100% of one month’s rent for the security deposit and a minimum of $200 for the Pet Deposit. The Security Deposit and Pet Deposit are dependant upon a variety of factors such as the strength of the applicant's background history and the size/sex of the pet.
- Weekly, while units are empty, and quarterly drive-bys if occupied. If, for any reason, we suspect there may be a reason to enter the unit for inspection, then we will do so. There will be an inspection during the anniversary month of the lease agreement and approximately one month prior to move-out. We will identify potential problems for the Tenant to correct.
- As long as you are not a party to an outstanding contract, we can manage your property upon inspection and signing of the Property Management Agreement.
